Search found 2170 matches

by Carefreeap
Thu Feb 15, 2018 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: Taking mortgage from a trust?
Replies: 13
Views: 678

Re: Taking mortgage from a trust?

Bostonbumper wrote:
Thu Feb 15, 2018 2:20 pm
To bsteiner’s point, I am a trustee, but not a beneficiary. There is another trustee outside of our immediate family who agrees with this plan and would be willing to make the loan distribution.
Wait a minute, you are the Trustee but not a beneficiary? How is this "your" money?
by Carefreeap
Tue Feb 13, 2018 11:05 am
Forum: Personal Finance (Not Investing)
Topic: Need help with re-financing house
Replies: 4
Views: 478

Re: Need help with re-financing house

I'd probably just pre-pay the home equity as fast as I could and review your options in 8 years if you still own the house. The 1/2 or 1% difference on a $72K balance isn't going to make that much difference. Throwing an extra $500/mth in principle will. Lenders don't like to refinance smaller loans...
by Carefreeap
Mon Feb 12, 2018 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: Deciding to Buy Rental Property - Need Advice
Replies: 16
Views: 1850

Re: Deciding to Buy Rental Property - Need Advice

Reading just a little between the lines of your post, it sounds like you are a "planner." I don't mean that in a bad way - my wife is a planner too, which is great 'cause I'm not. :-) I think you're counting a little too much on a plan, and trying to have everything dialed in - "settled" before sta...
by Carefreeap
Sat Feb 10, 2018 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: Live / work in California - Technology Career
Replies: 99
Views: 5894

Re: Live / work in California - Technology Career

So much of coastal CA has terrible traffic. The Central Coast is not so bad but getting there. Figure 8K for a house, or more, 2.5K for an apartment or small house. I have done well in California, starting out in the late sixties, but I'd never be able to make it now. I had 30 years in La Jolla and...
by Carefreeap
Fri Feb 09, 2018 5:41 pm
Forum: Personal Finance (Not Investing)
Topic: Live / work in California - Technology Career
Replies: 99
Views: 5894

Re: Live / work in California - Technology Career

I would say that yes, the technical strength of engineering co-workers in SV tends to be a bit stronger. On the other hand, at some of the really top, most selective companies you can end up with extremely bright folks but not ones that you would enjoy working with. When the hiring criteria is supe...
by Carefreeap
Fri Feb 09, 2018 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: Live / work in California - Technology Career
Replies: 99
Views: 5894

Re: Live / work in California - Technology Career

If you make enough money to consider those areas then the only expense you listed that will actually matter to your life is housing. I just moved from Michigan to Encinitas. You will not get the kind of house you have or dreamed of in Michigan. For some the weather is worth it. I gotta say it was r...
by Carefreeap
Fri Feb 09, 2018 11:58 am
Forum: Personal Finance (Not Investing)
Topic: Can the real estate market crash if there's no inventory?
Replies: 15
Views: 1269

Re: Can the real estate market crash if there's no inventory?

If we're talking about the SF Peninsula, I'd say don't hold your breath waiting for a "crash". A correction, maybe. But even during the melt-down 10 years ago we didn't see a crash. First, we have a supply problem since the Peninsula is geographically limited by water on three sides. This means that...
by Carefreeap
Wed Feb 07, 2018 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: Land Value in Apartment Building (Business Use of Home)
Replies: 2
Views: 180

Re: Land Value in Apartment Building (Business Use of Home)

How does the tax assessor estimate the land to improvement value?

Another option is to look at your appraisal from when you bought the property.

Most of the property I've owned has been in coastal CA. I could never get away with 10% land value! 8-)
by Carefreeap
Wed Feb 07, 2018 3:32 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving HCOL state for financial reasons
Replies: 48
Views: 4852

Re: Leaving HCOL state for financial reasons

I'm interested in hearing from people who have made big moves for cost of living purposes. Was it worth it? Do you have regrets? I work in biglaw (3rd year associate, not contemplating leaving biglaw currently but who knows long term) and DW is in education. We live in a (very) HCOL coastal city wh...
by Carefreeap
Tue Feb 06, 2018 11:25 am
Forum: Personal Consumer Issues
Topic: Ireland accommodations
Replies: 9
Views: 770

Re: Ireland accommodations

I agree with others that you really do need to plan out your accommodations with five people. One thing I haven't seen noted in this thread is that many B&Bs in folks' homes are only open in the summer season when school is out. Given Spring Break in the US and the Irish holiday weekend I think you ...
by Carefreeap
Tue Feb 06, 2018 11:07 am
Forum: Personal Finance (Not Investing)
Topic: Railroad Retirement question
Replies: 7
Views: 678

Re: Railroad Retirement question

I think all of us will be hard pressed to answer your questions, for several reasons. One is there are many railroads out there, and I'm sure they have many different unions, so there are probably dozens or hundreds of pensions. I don't know the details of your particular pension. However, the numb...
by Carefreeap
Mon Feb 05, 2018 12:27 pm
Forum: Personal Consumer Issues
Topic: Neighbor recently burglarized- Suggestions for home security
Replies: 83
Views: 6611

Re: Neighbor recently burglarized- Suggestions for home security

Front door kicked/pushed in - luckily nobody home but was on a Sunday afternoon. Apparently thief(thieves) went straight to the bedroom and found jewelry. The rest of the house seemed untouched. Neighbor is older woman that lives alone is very upset and scared. In priority order, what suggestions d...
by Carefreeap
Sat Feb 03, 2018 6:16 pm
Forum: Personal Finance (Not Investing)
Topic: How much to spend on a backyard?
Replies: 35
Views: 2781

Re: How much to spend on a backyard?

Is this an upslope yard where any mud would come into your house or a downslope where you have some view and are looking down into your neighbor's yard? We spent about $100k on three yards 2.5 years ago. Our lot is almost 1/2 acre but part of it is downslope and wasn't included. About 20k was for a...
by Carefreeap
Thu Feb 01, 2018 8:42 pm
Forum: Personal Finance (Not Investing)
Topic: How much to spend on a backyard?
Replies: 35
Views: 2781

Re: How much to spend on a backyard?

After spending a year and a bunch of money remodeling my house, it's time to turn attention to the sad landscaping. I live in SoCal, and the house is worth somewhere between $2 million and $2.5 million. Without landscaping, I figure the lower end, and with landscaping + infinity pool probably close...
by Carefreeap
Thu Feb 01, 2018 8:32 pm
Forum: Personal Finance (Not Investing)
Topic: How much to spend on a backyard?
Replies: 35
Views: 2781

Re: How much to spend on a backyard?

livesoft wrote:
Thu Feb 01, 2018 6:53 pm
Hillside. So Cal. Mudslide. Earthquake. There is probably a reason there is nothing in your backyard.
Lol, there's an optimist in every crowd!
by Carefreeap
Tue Jan 30, 2018 11:30 pm
Forum: Personal Finance (Not Investing)
Topic: Harvest Gains on a Rental Property?
Replies: 3
Views: 398

Re: Harvest Gains on a Rental Property?

RE is not simple or fast or cheap.... but many options and benefits exist. Harvesting gains.... 1). 1031 exchange (if you want to defer gains into ‘like-kind’ property. (Rules apply) 2). Convert to primary residence (if reasonable), and meet criteria... (more strict for converted income props) grab...
by Carefreeap
Tue Jan 30, 2018 5:41 pm
Forum: Personal Finance (Not Investing)
Topic: Purchasing Home + Renting out rooms
Replies: 20
Views: 2071

Re: Purchasing Home + Renting out rooms

1. You really need to watch the movie "Pacific Heights". It's probably older than you but a classic for what can happen with a bad house share. 2. You think you are getting a good deal because the price per sq.ft. is lower than other houses in the general area. Equating price per sq.ft. is only one ...
by Carefreeap
Tue Jan 30, 2018 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: The housing nowadays
Replies: 64
Views: 5876

Re: The housing nowadays

I am looking into buying a single family house in bay area California. I went into several open homes, I couldn't believe what I saw. Condition of the house, and location does not justify the price at all. I am called for a bubble to happen it's way overvalued. Do you have any idea what will bring ...
by Carefreeap
Tue Jan 30, 2018 10:49 am
Forum: Personal Finance (Not Investing)
Topic: How to fill out Quitclaim deed for property in California
Replies: 17
Views: 1155

Re: How to fill out Quitclaim deed for property in California

Wow! I'm glad I sold my SD County properties before the price hike! :shock: You're going to need to do the recordings anyway. If the condo is rented at least you can write off the expense on your schedule E. ETA: I feel your pain. I've been procrastinating on deeding some mineral interests in LA and...
by Carefreeap
Tue Jan 30, 2018 10:40 am
Forum: Personal Finance (Not Investing)
Topic: The housing nowadays
Replies: 64
Views: 5876

Re: The housing nowadays

The housing euphoria is in full force among my mid-20's to mid-30's peer group. Most everyone I know is obsessed with buying a house. The justifications range from fear of getting priced out of the market to the "it's an investment" fallacy. A trick many of them are using to buy houses that they ca...
by Carefreeap
Tue Jan 30, 2018 10:21 am
Forum: Personal Finance (Not Investing)
Topic: Rental property accounting
Replies: 10
Views: 863

Re: Rental property accounting

I set up a separate asset account in Quicken for each property, a mortgage if applicable and a separate checking account. I had one CC dedicated for "business". Since we only had a maximum of five rentals as well as some mineral rights I didn't feel the need to have a separate CC. If I only had one ...
by Carefreeap
Mon Jan 29, 2018 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: How to fill out Quitclaim deed for property in California
Replies: 17
Views: 1155

Re: How to fill out Quitclaim deed for property in California

Arizonasun2008 wrote:
Mon Jan 29, 2018 7:48 pm
Just found out that filing fees are now about $100 per document so 3 Quitclaim deeds in addition to two Revocable transfer of death deed puts us at $500 already. 👎🏼
Is this with a service or are these recording fees?
by Carefreeap
Mon Jan 29, 2018 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: Separation of jointly owned property after divorce
Replies: 13
Views: 982

Re: Separation of jointly owned property after divorce

Are he and the ex on speaking terms? If so, I'd go there first. If she/they can come to an agreement on their own, that is going to be the easiest way to go by far. Of course, if it was a bitter divorce and they can't stand each other.... +1 They don't need a lawyer to have the initial discussion. ...
by Carefreeap
Mon Jan 29, 2018 2:46 pm
Forum: Personal Finance (Not Investing)
Topic: Separation of jointly owned property after divorce
Replies: 13
Views: 982

Re: Separation of jointly owned property after divorce

That was my thought also, how much is this land worth and is it worth the fight? The divorce decree didn't have anything about who this land goes to and a figured out by date? I find it odd it would just say, jointly owned and leave it as forever to be jointly owned. Unless that's what they agreed ...
by Carefreeap
Mon Jan 29, 2018 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: Separation of jointly owned property after divorce
Replies: 13
Views: 982

Re: Separation of jointly owned property after divorce

Yes, a joint owner can force the sale of property. It's called a partition action. In this case, though, your friend should speak to his divorce attorney. Possibly going back to family court for an amendment of the divorce judgment is possible (I'm not sure, but that's why I'm recommending he speak...
by Carefreeap
Mon Jan 29, 2018 11:32 am
Forum: Personal Finance (Not Investing)
Topic: How to fill out Quitclaim deed for property in California
Replies: 17
Views: 1155

Re: How to fill out Quitclaim deed for property in California

Thanks so much for your reply! It was super helpful! I called the title company and they unfortunately don't do it as a courtesy, but did recommend a legal services company. They still seemed more expensive than what I was willing to spend: $125 per hour along with $15 fee per notarized signature. ...
by Carefreeap
Sat Jan 27, 2018 12:22 am
Forum: Personal Finance (Not Investing)
Topic: How to fill out Quitclaim deed for property in California
Replies: 17
Views: 1155

Re: How to fill out Quitclaim deed for property in California

Thanks so much for your reply! It was super helpful! I called the title company and they unfortunately don't do it as a courtesy, but did recommend a legal services company. They still seemed more expensive than what I was willing to spend: $125 per hour along with $15 fee per notarized signature. ...
by Carefreeap
Fri Jan 26, 2018 6:30 pm
Forum: Personal Finance (Not Investing)
Topic: How to fill out Quitclaim deed for property in California
Replies: 17
Views: 1155

Re: How to fill out Quitclaim deed for property in California

You'll need to deed it from both owners, your mom and brother to you and your brother. You need to list the marital status for future title searches or you could have a title issue. Are you married? If so, and you want to keep it as separate property you'll need to describe yourself as "married, sep...
by Carefreeap
Thu Jan 25, 2018 6:54 pm
Forum: Personal Consumer Issues
Topic: Selling home to rent in better area?
Replies: 18
Views: 1364

Re: Selling home to rent in better area?

Your post made me smile. I grew up in San Diego and after recently selling two properties in the County all I could think of was what still costs $225K, Campo? 8-) I'm thinking your rental costs in Coastal San Diego County are going to be substantially more than what you are currently paying, even i...
by Carefreeap
Thu Jan 25, 2018 2:26 pm
Forum: Personal Finance (Not Investing)
Topic: Father financial trouble
Replies: 40
Views: 4491

Re: Father financial trouble

After paying his other bills hes unable to make minimum payment. Will be going to lawyer to see what best thing to do is. I agree with the prior post to see what options are available on the lease since he is no longer able to drive. In any case it's only 6 more months on the car lease. What other ...
by Carefreeap
Wed Jan 24, 2018 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: Family dilemma involving wills/trusts
Replies: 24
Views: 2575

Re: Family dilemma involving wills/trusts

This situation already sounds like a convoluted mess. Very blunt question, what is Mom's Net Worth today? If Mom's already got dementia and is headed for memory care skilled nursing I'm wondering if there's really something to fight over in the distant future. ETA: In my area of CA, memory care is g...
by Carefreeap
Tue Jan 23, 2018 7:22 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of living comparison (HCOL vs LCOL)
Replies: 85
Views: 5950

Re: Cost of living comparison (HCOL vs LCOL)

I agree a 50% salary reduction is too big to allow one to move to a LCOL state. But I bet you can find a good job that pays maybe 80% of your current salary in a nice LCOL state. I know the COL in Arizona is way lower than California. See below. Houses incur big property tax bills. You are forgetti...
by Carefreeap
Mon Jan 22, 2018 10:19 pm
Forum: Personal Consumer Issues
Topic: Ancestry / 23andMe
Replies: 83
Views: 7103

Re: Ancestry / 23andMe

Heh, ancestry. 3 of four of my grandparents I'm told were 100% German. On a 10 day trip to Munich this fall only once was it assumed by a native (before I spoke a word- I know zero German outside what I know from old Hogan's Heros reruns) that I was not German. This includes the stewardesses on the...
by Carefreeap
Mon Jan 22, 2018 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Purchasing house we currently rent from in-laws
Replies: 10
Views: 958

Re: Purchasing house we currently rent from in-laws

Hello all, My wife and I are looking into purchasing the house we have rented for the past 2 years (in RI) from her parents, who own the house outright. They own this house (which my father-in-law helped design and build), their current house, and a condo, not sure if that information will have any...
by Carefreeap
Fri Jan 19, 2018 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: Dealing with overseas inheritance?
Replies: 3
Views: 392

Re: Dealing with overseas inheritance?

I'd retain the services of a tax firm that specializes in international tax law. When we lived in Germany, the company DH worked for used KPMG who prepared our individual returns. My take away from our overseas experience was that the US has tax treaties with most developed countries and that there'...
by Carefreeap
Fri Jan 19, 2018 10:58 am
Forum: Personal Finance (Not Investing)
Topic: Someone Needs To Pay For What They Did (Advice sought)
Replies: 44
Views: 7578

Re: Someone Needs To Pay For What They Did (Advice sought)

Who granted access to your unit? That's the responsible party (RP).

The RP should have walked around and inspected whatever work got done to ensure that the contractor cleaned up, etc.
by Carefreeap
Wed Jan 17, 2018 3:01 pm
Forum: Personal Finance (Not Investing)
Topic: [Virginia] Transfer on Death Deeds .. New Husband?
Replies: 42
Views: 1787

Re: [Virginia] Transfer on Death Deeds .. New Husband?

OP--A prenuptial agreement could address many problems, and could be prepared in conjunction with the new wills that both members of the happy couple should prepare anyway. Note that a prenup must be signed before the wedding, and the wills can be prepared in advance but should be signed after the ...
by Carefreeap
Wed Jan 17, 2018 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: [Virginia] Transfer on Death Deeds .. New Husband?
Replies: 42
Views: 1787

Re: [Virginia] Transfer on Death Deeds .. New Husband?

Do you hold a mortgage on the house? If so, isn;t that a degree of protection? Lets assume the OP does hold the debt. After marriage, Mom revokes the TOD deed and conveys the house into joint name with the spouse, or devises the property in her will to the spouse. Under the specific devise, unless ...
by Carefreeap
Tue Jan 16, 2018 12:41 pm
Forum: Personal Finance (Not Investing)
Topic: Sell vs rent
Replies: 6
Views: 527

Re: Sell vs rent

Thank you for the suggestions. It is a 15 year mortgage at 2.9%. My spouse wants to keep it as rental property while I'm looking at putting the amount may be in index funds and avoid the hassle of being a landlord. We have 140K on bank loan and will be paid off in 5 years. You and your spouse need ...
by Carefreeap
Sat Jan 13, 2018 10:55 am
Forum: Personal Finance (Not Investing)
Topic: Sell or Keep a rental condo
Replies: 36
Views: 2524

Re: Sell or Keep a rental condo

I'd say sell. You don't love it, it's not a huge contributor to your cash flow, and you have an opportunity to take a tidy profit from the appreciation. +1 I've done well by my real estate but it's a job and not for everyone. Even my "good" tenants have caused issues over the years. At this point (...
by Carefreeap
Fri Jan 12, 2018 10:16 pm
Forum: Personal Finance (Not Investing)
Topic: Senior seeking info about obtaining mortgage for condo purchase
Replies: 10
Views: 745

Re: Senior seeking info about obtaining mortgage for condo purchase

We did this when we bought our retirement home 14 months ago. Not every lending institution does asset depletion mortgages so you have to look around more. I found two mortgage brokers who did these mortgages as well as our regular bank - BofA. We ended up going with BofA as they had the best rate ...
by Carefreeap
Fri Jan 12, 2018 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: Is it time for me to "call in rich"?
Replies: 75
Views: 12396

Re: Is it time for me to "call in rich"?

We did it about the same age as you guys. A couple of points; We lived on our "retirement budget" the last three years of DH's work. We had re-located out of the country and since everything else changed it was easy for us to alter our budget. We assumed that paying our healthcare costs in retiremen...
by Carefreeap
Fri Jan 12, 2018 11:58 am
Forum: Personal Finance (Not Investing)
Topic: Elder Law Plan for my Parents & Cost: Move forward?
Replies: 9
Views: 1110

Re: Elder Law Plan for my Parents & Cost: Move forward?

5. Once many liquid assets are gone, then the plan is to get my mom to medicaid as quickly as possible via gifting money to the trust and family, etc. I think this is the plan at least - I need more clarification here. The five-year look-back for your mom will include these transfers. Keep in mind ...
by Carefreeap
Fri Jan 12, 2018 11:46 am
Forum: Personal Finance (Not Investing)
Topic: Senior seeking info about obtaining mortgage for condo purchase
Replies: 10
Views: 745

Re: Senior seeking info about obtaining mortgage for condo purchase

We did this when we bought our retirement home 14 months ago. Not every lending institution does asset depletion mortgages so you have to look around more. I found two mortgage brokers who did these mortgages as well as our regular bank - BofA. We ended up going with BofA as they had the best rate ...
by Carefreeap
Tue Jan 09, 2018 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: Elder Law Plan for my Parents & Cost: Move forward?
Replies: 9
Views: 1110

Re: Elder Law Plan for my Parents & Cost: Move forward?

I don't know; $8,500 sounds like a lot of money to me and I'm in a high cost area. I'm confused about your term about their estate being "plunged" by a facility. You need to double check your state's laws but with your father's pension it seems highly unlikely that he would be Medicaid eligible so i...
by Carefreeap
Tue Jan 09, 2018 10:58 am
Forum: Personal Finance (Not Investing)
Topic: Lowball offer on a home
Replies: 82
Views: 7081

Re: Lowball offer on a home

Perhaps I shouldn’t use the term “lowball”. I should retitle the article “making realistic offer on overpriced home”. Just some information: House sold for $335,000 in 2001. Sold for $460,000 in 2004. Was listed for sale on 11/17 for $569,000. It was then dropped to $519,000. Taken off MLS then rel...
by Carefreeap
Tue Jan 09, 2018 10:52 am
Forum: Personal Finance (Not Investing)
Topic: how to transfer mortgage from one trust to another
Replies: 15
Views: 909

Re: how to transfer mortgage from one trust to another

Whose name is actually on the mortgage? Who owns the property? Generally speaking, under the Garn St. Germain Act, a person can transfer property in and out of a Living Trust without triggering the Due on Transfer Clause in the mortgage. In CA you would accomplish this by executing a Quitclaim Deed...
by Carefreeap
Mon Jan 08, 2018 7:42 pm
Forum: Personal Finance (Not Investing)
Topic: how to transfer mortgage from one trust to another
Replies: 15
Views: 909

Re: how to transfer mortgage from one trust to another

Whose name is actually on the mortgage? Who owns the property? Generally speaking, under the Garn St. Germain Act, a person can transfer property in and out of a Living Trust without triggering the Due on Transfer Clause in the mortgage. In CA you would accomplish this by executing a Quitclaim Deed...
by Carefreeap
Mon Jan 08, 2018 6:17 pm
Forum: Personal Finance (Not Investing)
Topic: Lowball offer on a home
Replies: 82
Views: 7081

Re: Lowball offer on a home

If it really needs all that work it sounds like they have mispriced it. Has it been on the market long? I've seen, and I know I'm generalizing here, old couples that are out of touch with reality (they love their house) and in no hurry to sell. I guess sometimes they find a sucker but I'd guess the...
by Carefreeap
Mon Jan 08, 2018 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: how to transfer mortgage from one trust to another
Replies: 15
Views: 909

Re: how to transfer mortgage from one trust to another

Whose name is actually on the mortgage? Who owns the property? Generally speaking, under the Garn St. Germain Act, a person can transfer property in and out of a Living Trust without triggering the Due on Transfer Clause in the mortgage. In CA you would accomplish this by executing a Quitclaim Deed....